Business Insurance

Login  |  Register Subscribe



cbVid =

U.K.: Insurance claims from flooding expected to run into hundreds of millions

March 10, 2014 - 6:24am


Farmers in the United Kingdom are counting the cost of damage from the recent floods to their crops, machinery, buildings and infrastructure, Farming UK reported.

Insurance claims are expected to amount to hundreds of millions of pounds.

David McGeachy, value added tax specialist at Saffery Champness, said "that even though insurance claim settlements are not subject to VAT, the farm or estate is likely to incur VAT on repair works to put right damage or to replace damaged stock."

Read more

 



Get our daily Global Focus newsletter
  •  


You may also want to visit

International Content